Virtuals Protocol’s native token, VIRTUAL, attracted attention with a 24 percent increase in the last 24 hours.
This double-digit rise has made VIRTUAL even more popular. VIRTUAL, the leading token in the AI Agents space, has reached $380 million in daily trading volume. Crypto investors consider this token to be the star of the upcoming bull market. So, what is the latest status of VIRTUAL?
VIRTUAL’s 24% price increase was supported by a 109% increase in daily trading volume, which reached $383 million, demonstrating significant growth. This development indicates that investors’ interest in the token is increasing and that the trend in this area is strong.
In addition, VIRTUAL’s Long/Short Ratio also supports this uptrend. According to data from crypto data platform Coinglass, the ratio is currently at 1.02, indicating that demand for long positions is greater than for short positions. When the Long/Short Ratio is above 1, it means that there are more long positions in anticipation of rising market prices. This suggests that VIRTUAL has the potential to continue rising for a while.
On the daily chart, VIRTUAL is trading just below the $3.32 all-time high (ATH) reached on Dec. 16. This price action coincides with the bounce from the 20-day Exponential Moving Average (EMA) support at $2.31.
Moving averages analyze trends by tracking a weighted average of prices over the last 20 days. If an asset bounces off the 20-day EMA and stays above it, it indicates that buyers are defending the level and the uptrend is strengthening.
If the 20-day EMA level continues to hold, VIRTUAL may refresh the ATH level and start a new rally. In this case, a move towards the $4 level can be expected. However, if it falls below the 20-day EMA, there is a risk that the price will fall to the $1.11 level.